Vietnam: Tax revenue from Google, Youtube, Facebook reaches US$49.5 million in 2020
ASEANPLUS NEWS
Sunday, 07 Feb 2021

6:03 PM MYT
https://www.thestar.com.my/aseanplus/aseanp...million-in-2020
Due to the impact of the COVID-19 pandemic, digital economy business activities recorded very rapid development. - The Vietnam News/ANN

HANOI, Feb 7 (Vietnam News/ANN): Tax revenues from online advertising business models of foreign organisations that do not have legal entities in Việt Nam like Google, YouTube or Facebook hit VNĐ1.14 trillion (US$49.5 million) last year, reported the General Department of Taxation.

The value-added tax was VNĐ519 billion and corporate income tax VNĐ624 billion.

A representative of the department said that due to the impact of the COVID-19 pandemic last year, many types of traditional businesses had to change the way they operated. In particular, digital business activities recorded very rapid development, he noted.

People participated in online shopping and entertainment activities and used cashless payments with a higher frequency due to the pandemic, said the representative.

Meanwhile, enterprises had to change production and business models towards digitisation, apply online technology in their products, and engage with customers to create new revenue sources, he added.

Tax revenue from business activities on digital platforms would continue to increase thanks to the rapid development of digital economic services, he said.

In another development, Vietnam recorded five new cases of COovid-19 infection on Saturday, bringing the total confirmed cases in the country to 1,981 with 35 deaths, according to its Ministry of Health.

The new infections included one imported case, who recently entered the country from abroad and was quarantined upon arrival.

The four locally transmitted cases included one each in the northern provinces of Bac Ninh and Quang Ninh, the southern Binh Duong province and southern Vietnam's Ho Chi Minh City, said the ministry.

As many as 1,468 patients have been given the all-clear, the ministry said, adding that over 83,100 people are being quarantined and monitored.

The ministry has sent experts and advanced equipment to support the northern Dien Bien province, a mountainous locality with weak testing capacity, for its fight against the pandemic.

The latest wave of Covid-19 infections hit the country on Jan. 28, with 398 community cases so far confirmed in 12 cities and provinces, according to the ministry. Vietnam News/ANN

This post has been edited by Daylight2018: Feb 7 2021, 08:36 PM

Malaysia should also tax them

No, they give them 10 years tax break instead...

wit m'sia slow infra, poor coverage, & slow undersea repair policy, big players also reluctant to invest here already.

Malaysia already got 6% digital tax

https://marketingmagazine.com.my/google-los...ey-in-malaysia/

We should tax them..

So they don’t pay taxes lol

Digital economy is da future

Eh, talking about tech companies...

Didn't Malaysia launch like an email service for people to correspond for the goverment which cost millions? What happened to it?

Boss, USD49.5mill lar... not billion 🤣

creative accounting... then no need to pay taxes...

Cukur pipit enjoy bPN

okay

10 yrs tax break but quota jgn tak quota, employee mesti 70% ...

i know a lot of corporate in m'sia migrate from gsuite to o365.
microsoft is very agressive wit thei corporate discount.

but, in terms of user friendlyness, o365 are miles behind.

incoming us sanction against Viet.....oh wait...US need to zhut zhut vietnam Balls due to the geopolitic location to counter CCP...!!!

Vietnamese monetize kaw kaw youtube with clone videos and repackage china tik tok videos.

they make better clone shoes nike n dr.martens with thicker comfy insoles than Tiongkok slaves dens